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Oil CEOs Strike Back With Warning on the Energy Transition

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Photographer: Daniel Acker/Bloomberg
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Buoyed by high oil prices, the bosses of the biggest explorers this week laid out a vision for the energy transition that hinges on more fossil-fuel investment rather than less.

The World Petroleum Congress in Houston, an industry showcase, saw last-minute cancellations due to the omicron variant, but it didn’t stop a steady stream of senior executives hammering on the same point: the world will need us for years to come, so let’s invest and produce, or risk more economically damaging price spikes or even social unrest.